Coolberg raises seed funding led by India Quotient Fund and IAN Fund

Mumbai based startup Coolberg Beverages on Wednesday announced securing an undisclosed amount as seed funding from India Quotient Fund and the Indian Angel Network's maiden Fund for further expansion.

Known for its Non-Alcoholic Beer, Coolberg offers wide range of variants to suit the Indian customer's palette. Conceptualized by Pankaj Aswani and Yashika Keswani, the company aims to provide innovative product to enjoy during celebrations.

"Our aim is to provide our customers a drink that is different from what they've been consuming and stuck on for years. Indian customers are more open to new and quality products than ever before," said Pankaj Aswani.

"Non-alcoholic beer is relatively a white space in the beverage segment in India. While going to pubs and cafes for drinks is a fast catching trend for Indian millennials, the choices for beverage specially for people who do not want alcohol, is very limited. Coolberg has an opportunity to establish itself as the first choice beverage of all such non-alcohol pub and cafe visitors," added Madhukar from IQ.

"Coolberg is all about creating a millennial focused brand which can be consume anywhere anytime; so for me Coolberg drink is all about celebration while being festive & social. Coolberg has got unprecedented investor interest and deal was oversubscribed in couple of minutes. With brand Coolberg makes suave generation X feel elevated," said Sanjay Mehta.